Increasing Investments in Digital Infrastructure to Offer Promising Growth Opportunities for Data Centers, Reports Fact.MR
As per the recent published report by market research and competitive intelligence provider, Fact.MR, the global data center market is anticipated to exceed a valuation of US$ 77 Bn in 2021, and expand at an impressive CAGR of 13.8% over the forecast period of 2021 to 2031.
The market had registered an annual growth of 9.4% during 2016-2020. Study anticipates significant potential in the market, due to increase in technological advancements such as Internet of Things, cloud, and connected devices.
Governments across countries, including China, India, the U.S., U.K. and others are increasing digital infrastructure investments for developing robust data centers. Public-private partnerships are driving digital infrastructure growth at a much faster pace. For instance, the U.K. government announced more than US$ 1 Bn for digital infrastructure development to emerge as digital hub.
Data centers are broadly deployed in the IT & telecom and BFSI sectors due to their high-end capabilities of data saving and security. Overall, the global data center market is slated to grow 3.6X over the decade.
Key Takeaways from Market Study
- Data center rebuild likely to witness value generation of US$ 80 Bn by 2031.
- Based on application, government and healthcare segments are anticipated to be most lucrative with market shares of 22.8% and 15.3% in 2031, respectively.
- The operation assessment segment is expected to be valued at US$ 3.8 Bn in 2021.
- Based on region, demand for data centers is expected to increase at a CAGR of 15.4% and 12.5% in the South Asia & Oceania and Latin America regions, respectively, over the forecast period.
- Together, North America and Europe represent over 61% of overall market share.
“Mounting cloud-based services has boosted development of digital infrastructure, thereby accelerating the need for new data centers across regions,” says a Senior Research Analyst.
The trend of green data centers has gained high traction, given the increasing need for cost-effective and energy savings along with enhanced efficiency and sustainability. Largely driven by digitization in every industry, data centers are expected to witness potential growth prospects across mature as well as emerging markets.
Market participants are leveraging on the megatrend of digitalization. The prime strategy adopted by market frontrunners is enriching their services through value addition at each node of their offerings.